Changes to the Constitution & AMIT Regime
The constitution of the Paragon Australian Long Short Fund was amended for the implementation of the Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2015, the new tax regime for managed investment trusts referred to as the AMIT regime.
Paragon elected to rely on ASIC’s relief to make these changes without obtaining approval from Unit Holders but issued the following notice to Unit Holders advising of the proposed changes and reasons why as required. Unit Holders did not request a meeting to be held and as such, the changes to the constitution took effect on 15th December 2016.
Please read this notice for further details on the AMIT regime, the reasons for the changes and the specific clauses of the constitution that have been changed accordingly.